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Prescott's Business Retention and Expansion

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Town of Prescott Crest

 Prescott Business Retention & Expansion 

If you missed the BR+E Community Action Planning Retreat held Wednesday, July 19th, please review the BR+E Community Action Planning Retreat Overview Presentation.


Did you happen to miss our Funding Fundamentals for Business Owners interactive workshop?

Well, you're in luck! We've added a video of the presentation for those of you who missed it. Please find the PowerPoint presentations below the video for further information or to follow along.

Visit our Fort Town TV page to view the presentation. 

CSE Funding Fundamentals - CSE Consulting

Building Smart Business Building Smart Communities - Grenville Community Futures Development Corporation 


The Town of Prescott's Business Retention and Expansion (BR+E) Program

The Town of Prescott is currently undertaking a Business Retention and Expansion (BR+E) initiative in order to gather critical information that will help economic development strategic planning and progress Prescott's business future into the next ten years.

What is Business Retention and Expansion (BR+E)?

Business Retention and Expansion (BR+E) is a community-based economic development program with a focus on supporting existing businesses. It provides a systematic approach to assist communities in developing strategies to support businesses, retain and create new jobs and opportunities. BR+E uses an in-depth, four stage process to assist communities in developing and implementing concrete action plans.

images to show the stages of the BR+E

 

Why Undertake a BR+E?

Undertaking a BR+E helps communities understand local business needs and respond - so that businesses stay, grow, and become more competitive in the community. It is important to recognize that few communities can do everything they would like to in order to support existing businesses. The BR+E program helps communities to identify their priorities. The BR+E program involves trained volunteers visiting businesses to conduct confidential interviews with senior level management, owners or managers. Data analysis and action planning is then undertaken to address issues and opportunities.

According to the Ontario Ministry of Agriculture, Food and Rural Affairs, existing businesses create more jobs and account for 74% to 90% of new jobs in a community. 

Other reasons to undertake a BR+E include:

  • A BR+E helps to retain businesses which is easier and less expensive to retain than attracting new businesses
  • A BR+E provides a community with the self-awareness necessary to build on community strengths and assets as well as identify and address areas for improvement
  • A BR+E can be a community's early alert system both for opportunities to grow and opportunities to support and retain existing businesses

Prescott's BR+E Goals

Goal: To work with a representative team of stakeholders to examine the Town of Prescott's business environment through a sector-based overview approach in order to provide the data and insight needed to develop an economic development strategic plan that will move Prescott business forward for the next 10 years. 

Short-Term Objectives

  • Build relationships with local businesses
  • Demonstrate and provide community support for local businesses
  • Build capacity within the community and strengthen relationships between organizations
  • Identify the positive and challenging attributes of the community as a place to do business
  • Identify and address immediate concerns and issues of individual businesses through an assessment and referral process; Retain businesses and jobs where there is a risk of closure
  • Collect business and market data to support economic development planning
  • Establish and implement a strategic action plan to support existing businesses 

Long-Term Objectives

  • Establish and implement strategic actions for local economic development
  • Increase the competitiveness of local businesses
  • Build a stronger viable local economy
  • Job creation and new business development

Questions?

For questions, further information, please contact Economic Development Officer Jacqueline Schoemaker Holmes, PhD at 613-925-2812, ext. 6221.

 

 

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